crm114

Guildford

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Guildford seems relatively over priced to me. It is a reasonably nice place but why are people willing to pay such a premium to live there. For instance, here are two very similar modern townhouses - one in Guildford and one in Putney. The one in Guildford is a lower price but more expensive on a per sqaure foot basis. This seems crazy.

Guildford = £478 per square foot
http://www.rightmove.co.uk/property-for-sale/property-68104436.html

Alton Road, Putney = £436 per square foot
http://www.rightmove.co.uk/property-for-sale/property-69327545.html

 

 

 

 

 

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2 hours ago, crm114 said:

Guildford seems relatively over priced to me. It is a reasonably nice place but why are people willing to pay such a premium to live there. For instance, here are two very similar modern townhouses - one in Guildford and one in Putney. The one in Guildford is a lower price but more expensive on a per sqaure foot basis. This seems crazy.

Guildford = £478 per square foot
http://www.rightmove.co.uk/property-for-sale/property-68104436.html

Alton Road, Putney = £436 per square foot
http://www.rightmove.co.uk/property-for-sale/property-69327545.html

 

 

 

 

 

Whilst I'd agree that everything is overpriced at the moment, I think that you'll find that it is the Putney house that is out of line with the prices in the area rather than the Guildford one.

That is more Roehampton than Putney, and whilst it looks nice on a map, sandwiched between Richmond Park and Wimbledon Common with easy access to the A3, it is actually quite a rough area. I am not quite sure what happened around there back in the 1960's - there are loads of fabulous houses (look at the one next door to the house you linked), but most seem to have been knocked down and replaced with council blocks. 

If you moved the house across to Putney 'proper' you'd be nearer £1,000 per sqft. Frightening.

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22 minutes ago, worried1 said:

Whilst I'd agree that everything is overpriced at the moment, I think that you'll find that it is the Putney house that is out of line with the prices in the area rather than the Guildford one.

That is more Roehampton than Putney, and whilst it looks nice on a map, sandwiched between Richmond Park and Wimbledon Common with easy access to the A3, it is actually quite a rough area. I am not quite sure what happened around there back in the 1960's - there are loads of fabulous houses (look at the one next door to the house you linked), but most seem to have been knocked down and replaced with council blocks. 

If you moved the house across to Putney 'proper' you'd be nearer £1,000 per sqft. Frightening.

yep 

 

they put putney in the name but it is far from it . 

putney vale, the only thing going for it is the asda on the a3 !

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Thanks. That is a fair point. I’m afraid I don’t know Putney that well but £1000 per square foot for something like that would be frightening indeed! Getting back to Guildford though, is anyone seeing price drops here or have they not yet radiated out from London? I’ve just started looking and am trying to get an idea if asking prices have started falling here ... and if so, by how much!?

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Not sure about Guildford but they are on the slide in Reading which is only a little further from London and is supposed to be benefiting from Crossrail -- Ho, Ho, Ho....

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The reason is because Guildford is the  only option for exiting Londonists who want to avoid Dormitory-town ism beyond the M25.  Guildford has those boutique shops, farmers market stalls, varied eateries if you want to maintain a London-style social life  or the urban café culture lifestyle Kirsty and Phil constantly bang on about.  That's the only option in Surrey for that lifestyle.   That makes it high desirable to those leaving London and therefore expensive.

Edited by Does Commute Abit

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There are stores closing randomly, maison Blanc and a few other small businesses.

Drove through woking the other day and noticed Charlie Choys has closed and the restaurant next to it has boarded up.

Something is definitely happening 

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On 11/10/2017 at 6:09 PM, crm114 said:

Thanks. That is a fair point. I’m afraid I don’t know Putney that well but £1000 per square foot for something like that would be frightening indeed! Getting back to Guildford though, is anyone seeing price drops here or have they not yet radiated out from London? I’ve just started looking and am trying to get an idea if asking prices have started falling here ... and if so, by how much!?

I don't monitor Guildford that closely, but I am certainly not seeing the type of drops there that I am seeing in Kingston/Surbiton. Prices between the two areas look much closer than they were a year ago. Who knows whether that is the new norm or if Guildford falls will start accelerating.

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On 11/10/2017 at 7:21 PM, Does Commute Abit said:

The reason is because Guildford is the  only option for exiting Londonists who want to avoid Dormitory-town ism beyond the M25.  Guildford has those boutique shops, farmers market stalls, varied eateries if you want to maintain a London-style social life  or the urban café culture lifestyle Kirsty and Phil constantly bang on about.  That's the only option in Surrey for that lifestyle.   That makes it high desirable to those leaving London and therefore expensive.

100% this. In many ways Guildford is a lot more like this than a lot of parts of London itself. I think it is a very attractive destination for people with money. You can still buy quite a nice house in Guildford for the price of a decent flat in Balham and I think a lot of people would prefer Guildford.

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The problem with Guildford is outside the high street, and the relative small nice area; it is all fur coat and and no knickers.  I lived for 14 years and large areas are blighted by student houses. These mean large areas are blighted with unkempt gardens, noisy parties even on a school night (annoying if it goes on till 2am and you have to get up at 6am)but worst of all, students not being disciplined, they but bin bags out random times or save them up and the foxes come and rip  them open. The street I lived in was usually  littered with rubbish including used razors and sanitary towels. As a result Guildford has a rat problem.

 http://www.getsurrey.co.uk/news/surrey-news/guildford-mp-anne-milton-calls-7308129

http://www.getsurrey.co.uk/news/surrey-news/rats-appearing-slum-conditions-around-7271796

 

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That’s very interesting. I know Kingston reasonably well but I’ve just started looking at Guildford. I was initially surprised at how expensive it was (although for good reasons as “Does Commute a Bit” kindly commented) but I am seeing price drops. My feeling is that it is only just starting though - like a wave moving out from London. 

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3 hours ago, worried1 said:

100% this. In many ways Guildford is a lot more like this than a lot of parts of London itself. I think it is a very attractive destination for people with money. You can still buy quite a nice house in Guildford for the price of a decent flat in Balham and I think a lot of people would prefer Guildford.

I've commented lots on why Woking is rated inferior to Guildford by both London exiters and by locals in Surrey.  You can buy a far nicer house in a safe leafy suburb of Woking (with a far easier London commute) than that money will offer you in terms of Guildford housing. 

The reason I've concluded is that Woking feels like a dormitory town and doesn't have the critical mass of people that are using the town on the 5 working days to support its own specialist or upmarket shops, farmers market, culture scene.   It also lacks a diversity of people and also a bit of history and lacks a  "purpose" for people to visit it.  One key aspect of Guildford is that it has all of these.  Quite importantly,  Guildford has a large University that brings in a population of young, energetic  globally-orientated people that keep the eateries and cultural scene going during the week.   Any specialist shops or fancy eateries in Woking, I suspect, have a hard time making good trade outside of Fri/Sat/Sun night as its a large commuting population that want to get home at night during the week.   For example, Tante Marie's restaurant is always near empty barring the weekend evenings.   Of course, the downside of this for Guildford is student neighbourhoods and their issues listed above. 

I think Woking looks like a nice and safe option, but charmless, for a Londoner considering moving out.  Guildford keeps some of the London buzz through its features l list above and seems somewhere where one can move to from an urban lifestyle and not have to change your way of living very much.  Woking requires a total change of lifestyle - I dont live in Woking (I recommend its nearby villages, some with train stations direct to Waterloo, rather than the town itself) - but I have embraced a more rural and sedentary lifestyle to enjoy it - I keep an allotment, enjoy the outdoors etc. rather than do London social scene type things in the area.

 

 

 

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2 minutes ago, crm114 said:

I do find this sort of thing pernicious:

http://Guildford, Surrey http://www.rightmove.co.uk/property-for-sale/property-59309197.html

Now on for overs in excess of £850k. Last year it failed to sell for £825k and was withdrawn from the market!

http://Guildford, Surrey http://www.rightmove.co.uk/property-for-sale/property-59309197.html

looks like 500k to me 

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In the £200K- 500K the market is dropping. Most properties have reductions and almost all have been on markets for 6 months plus. Some relisted to have a more recent date. All vastly overpriced. Even the gullible arent buying 

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18 hours ago, Gribble said:

In the £200K- 500K the market is dropping. Most properties have reductions and almost all have been on markets for 6 months plus. Some relisted to have a more recent date. All vastly overpriced. Even the gullible arent buying 

We are looking to buy in the area. A while ago we actually found a place we liked. It had been on the market for months. We put in what we thought was a reasonable offer but the owner wouldn’t entertain it. I even pointed out comparable properties that sold for less about a year or so earlier (I.e. in a more buoyant market). The estate agent’s response was “but this one is worth more.” To which I replied. “Is it? How come it has been on the market for eight months and remains unsold.” They then told me that if I didn’t act now, the owners would take it off the market. He was right. They did. It does seem that there is a lot of this kite-flying going on with owners in search of the greater fool. Presumably it will come back on at some point in the new year ... 

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23 minutes ago, crm114 said:

We are looking to buy in the area. A while ago we actually found a place we liked. It had been on the market for months. We put in what we thought was a reasonable offer but the owner wouldn’t entertain it. I even pointed out comparable properties that sold for less about a year or so earlier (I.e. in a more buoyant market). The estate agent’s response was “but this one is worth more.” To which I replied. “Is it? How come it has been on the market for eight months and remains unsold.” They then told me that if I didn’t act now, the owners would take it off the market. He was right. They did. It does seem that there is a lot of this kite-flying going on with owners in search of the greater fool. Presumably it will come back on at some point in the new year ... 

And with luck the agent will come back to you offering it at a lower price than your original offer; we can but hope.......

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Guildford is a commuter town of choice ....Surrey market is definitely moving to the downside but desirable places will "stick" on the way down more than less desirable places

Look at somewhere less prime in terms of choice - Camberley, a nice place but an unmanageable commute from Waterloo (changing Ash Vale a real drag) or quite expensive and slow (add a hefty parking fee and non-simple car commute time to your London journey from maybe Farnborough or Brookwood).   Camberley has the highest proportion of discounted homes in the UK:

http://www.independent.co.uk/news/business/news/uk-house-prices-latest-updates-homeowners-slash-value-property-markets-london-sales-slows-a8116481.html

Edited by Does Commute Abit

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2 hours ago, Does Commute Abit said:

Guildford is a commuter town of choice ....Surrey market is definitely moving to the downside but desirable places will "stick" on the way down more than less desirable places

Look at somewhere less prime in terms of choice - Camberley, a nice place but an unmanageable commute from Waterloo (changing Ash Vale a real drag) or quite expensive and slow (add a hefty parking fee and non-simple car commute time to your London journey from maybe Farnborough or Brookwood).   Camberley has the highest proportion of discounted homes in the UK:

http://www.independent.co.uk/news/business/news/uk-house-prices-latest-updates-homeowners-slash-value-property-markets-london-sales-slows-a8116481.html

I wonder how much of it is to do with the pricing being too ambitious in the first place? Are sellers in some areas being less realistic than others, perhaps spurred on by enthusiastic EAs?

Kingston and Richmond came second and third behind Camberley in that survey. I wasn't surprised because there are reductions everywhere I look at the moment, but the market does seem to be changing in that I am seeing some houses coming on initially at prices way below what we would have seen last year.

Whether or not they will need reductions as well is another matter - hopefully they will because that will indicate something has really started!

BTW - I like the lone comment on that Independent article!

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Yes, Kingston and Richmond are both prime+, so to see them in the top three is interesting.  I think prices just got a bit ahead of themselves in recent years, perhaps the pros and cons of using SWRailways as your means of getting to work, has not been correctly valued given recent problems on the rail network. 

2 hours ago, worried1 said:

I wonder how much of it is to do with the pricing being too ambitious in the first place? Are sellers in some areas being less realistic than others, perhaps spurred on by enthusiastic EAs?

Kingston and Richmond came second and third behind Camberley in that survey. I wasn't surprised because there are reductions everywhere I look at the moment, but the market does seem to be changing in that I am seeing some houses coming on initially at prices way below what we would have seen last year.

Whether or not they will need reductions as well is another matter - hopefully they will because that will indicate something has really started!

BTW - I like the lone comment on that Independent article!

 

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On 12/20/2017 at 2:03 PM, worried1 said:

I wonder how much of it is to do with the pricing being too ambitious in the first place? Are sellers in some areas being less realistic than others, perhaps spurred on by enthusiastic EAs?

Kingston and Richmond came second and third behind Camberley in that survey. I wasn't surprised because there are reductions everywhere I look at the moment, but the market does seem to be changing in that I am seeing some houses coming on initially at prices way below what we would have seen last year.

Whether or not they will need reductions as well is another matter - hopefully they will because that will indicate something has really started!

BTW - I like the lone comment on that Independent article!

 see feck all being listed in richmond i have been looking for months same old overpriced rubbish listed and not selling. 

decided kew richmond or putney is going to be my target area for a small place with low service charges or none at all if possible.  maybe out a bit further if small houses start selling for 300k again or less. 

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On 20/12/2017 at 4:39 PM, Does Commute Abit said:

Yes, Kingston and Richmond are both prime+, so to see them in the top three is interesting.  I think prices just got a bit ahead of themselves in recent years, perhaps the pros and cons of using SWRailways as your means of getting to work, has not been correctly valued given recent problems on the rail network. 

 

Yep, I think the SWR effect can’t be overstated. The service has really taken a turn for the worse since the new franchise has started, and the unions strike action from NYE will make things worse still.

There have been several articles claiming that the crisis on Southern Rail has caused deeper house price falls there than in other parts of the SE, so I wonder if that is what is in store for the SWR area now.

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17 hours ago, longgone said:

 see feck all being listed in richmond i have been looking for months same old overpriced rubbish listed and not selling. 

decided kew richmond or putney is going to be my target area for a small place with low service charges or none at all if possible.  maybe out a bit further if small houses start selling for 300k again or less. 

Richmond is just crazy to me, I can’t even understand the prices, but I guess that is what Kingston prices look like to those a bit further out still.

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